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News Articles: tax credits

The emergency room at Piedmont Macon Medical Center.

Georgians can now window shop for marketplace plans, but monthly costs could go up in January

With Congress still in a stalemate over health care spending, monthly premiums for plans on Georgia Access will likely look different next year. 

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A selection of Kia EV6 electric sedans are displayed at a dealership in Manchester, N.H., in July. The EV6 is eligible for a federal tax credit worth up to $7,500 for buyers under a certain income cap. And like all electric vehicles, it's eligible for a $7,500 tax credit on a lease. But the tax credits are expiring on Sept. 30th.

EV sales surge in the U.S. ahead of Sept. 30 tax credit deadline

A $7,500 tax credit is available for the lease or purchase of many electric vehicles — but only if contracts are inked by midnight on Sept. 30. The result: The market for EVs is a little distorted.

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By:
  • Camila Domonoske
An electric vehicle sits parked at a Tesla charging station in Sausalito, Calif., in June. The tax and spending package under consideration in the Senate could eliminate federal tax credits for buying and purchasing an EV at the end of September — even sooner than a House version of the same bill proposes.

Senate considers ditching the EV tax credit even earlier than planned

As the Senate debates the giant tax and spending bill, lawmakers are weighing a Sept. 30 end date for the EV tax credits. The bill still needs to pass the Senate and then go through reconciliation.

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By:
  • Camila Domonoske
Jeep Wrangler 4Xe plug-in hybrids displayed on the sales lot at Hilltop Chrysler Jeep Dodge Ram in Richmond, California.

EV buyers who missed out on their tax credits now have a fix from the IRS

Some car owners couldn't claim the EV tax credit for vehicles purchased in 2024 because dealers skipped a key sales reporting step. The IRS is now offering a fix.

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By:
  • Camila Domonoske
A Ford F-150 Lightning electric pickup truck is displayed for sale at a Ford dealership in Glendale, Calif., in August. Some car shoppers are hurrying to finalize EV purchases while they can still be certain to get a hefty federal tax incentive.

The federal EV tax credit has an uncertain fate. What car shoppers should know

Currently, drivers can get a tax credit worth up to $7,500 for buying or leasing an EV. But the incoming administration promised to roll back those credits, which they consider wasteful spending.

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By:
  • Camila Domonoske